Visa in Advanced Talks to Acquire Featurespace for Over £700m

Visa is reportedly in advanced discussions to acquire UK-based fraud detection firm Featurespace in a deal valued at over £700 million, according to Sky News.

Founded in 2008 by Professor Bill Fitzgerald and Dave Excell, Featurespace specializes in financial crime prevention, particularly in anti-money laundering (AML) and fraud detection. The company’s ARIC Risk Hub platform, powered by real-time machine learning, is used across more than 180 countries to assess risk and combat fraud.

Featurespace’s technology is employed by major financial institutions, including HSBC, Elavon, and Danske Bank.

While negotiations are ongoing, no formal agreement has been reached, and the deal could still fall through, sources indicate.

This development comes on the heels of Visa’s recent announcements of new digital product innovations, including AI-driven fraud management solutions. Last December, Visa also agreed to purchase a majority stake in Mexican payment processor Prosa.